The City Council authorized the sale of a 20-acre parcel located at 8617 Edmonson. The City is entering into a purchase agreement with LSW Investments, LLC.
The site, located just outside the city limits, was acquired by the city in 2008 as a site for a new public works facility. The City no longer views the Edmonson parcel as a viable sight for its future public works facility.
According to city staff, LSW Investments, LLC intends to petition the City for annexation and then begin the process of building 40 to 50 residential units on the property, located just south of the City’s Featherstone devlopment.
The proposed sale of the property is for $300,000. That’s $21,000 less than its assessed value, according to staff.